Pending home sales in the United States declined by 3.4 percent year over year during the four weeks ending May 11, real estate brokerage Redfin said in a May 15 statement. Spring home buying has been sluggish this year due to economic uncertainties.
A total of 89,132 pending sales were recorded for the period, which is the “lowest level on record for this time of year aside from 2020,” the company said.
